FAQ

Thursday, March 20, 2014

Apparently SM is being accused of massive tax evasion lol

The website segye.com is reporting that SM has been evading a shit load of taxes through creative loopholes such as creating a singer named "SM Entertainment" in Hong Kong and funneling money through that, among other stuff. Apparently this isn't the first time such accusations have been made against the company such as in 2003 but nothing really came of it. The 19th Seoul Regional Tax Authority and the IRS have been investigating SM for a while now and have discovered that over 30 SM employees have been evading taxes worth a couple USD tens of millions of won.

There are rampant rumors regarding the SM Annual General Meeting being held today/tomorrow (3/21). It does seem convenient these rumors would show up now of all times.

At any rate we can only speculate what effect this will have on the Suju M comeback.

Like Kpopalypse said, it'll blow off soon. Of course, fans of rival companies like YG are certain to bitch and moan about it. I mean 12 to 17 year olds who don't even pay taxes talk about how not paying taxes is unfair to those who pay. Lol.

Seriously? Everybody in the world is evading tax lol!!!! They open companies in Hong Kong and Singapore lollls. Don't freaking know why S Koreans are making such a big deal with it when every Big company is blatantly practicing this openly. It's not that its illegal right setting overseas companies and put the profits there. Its just a loophole. lol.